The idea of getting help from a financial adviser can seem a bit daunting, but the advice process is really about developing a financial road map for the next few years and getting a list of suggested tools to help you on your way. So, if you are going to take the plunge and get professional advice, what can you ... Read more
Comparing super funds
If there was a silver lining to the recent Financial Services Royal Commission’s, it’s that it made Australians more aware that some super funds have not been serving their members well.
If you would like to know more about your super fund and how it rates but don’t know where to start, we have put together a series of articles to help you do just that.
Follow the links below to find out how to compare funds and how to rate your fund against the best on offer. We also have a guide to the types of super fund on offer, their strengths and limitations.
Click on the links below for more information on comparing super funds:
- Types of super funds
- MySuper and your super
- How to compare super funds in 7 easy steps
- Choosing a super fund (fund choice)
- Guide to the Superannuation Standard Choice Form
- Investment performance
- Super fees and charges
- Insurance and super
- Considering an SMSF
Below are some of our key Comparing super funds articles:
Set out below are all SuperGuide articles that relate to Comparing super funds.
APRA ‘heatmap’ raises the heat on underperforming super funds
The Australian Prudential Regulation Authority (APRA) has released a ‘heatmap’ of MySuper superannuation funds designed to smoke out underperformers. Although generally applauded by the superannuation industry and consumer groups, some say the focus of the heatmap is too narrow. Others warn that some of the funds on ... Read more
What is a self-managed super fund (SMSF)?
As the name implies, an SMSF (also known as DIY super) is a private super fund that you manage yourself. So it’s no surprise that control is the number one reason people give when asked why they chose to fly solo. SMSFs give their members control over how their retirement savings are invested. Other reasons for ... Read more
How to grow your super: Know your risk profile
Want to add thousands to the account balance of your super when you retire? Then make sure the investment option you have selected for your super account matches your risk profile, as that single decision can make thousands of dollars difference to your eventual retirement savings. Don’t know what a risk profile is? ... Read more
What are unit pricing and crediting rates and why do they matter?
Understanding why your super balance goes up and down – and comparing the performance of your super fund with other funds – is about more than just checking fees, super contributions and insurance premiums. It’s also knowing how – and when – your super fund calculates and applies investment earnings to the balance of ... Read more
Who to turn to if you have a problem with your super or financial adviser
Knowing who to complain to when you need help resolving a problem with your super fund or financial adviser can be confusing. Whether it’s a concern about poor advice, problems with unpaid SG contributions, or questions about how your private data has been handled, there are a number of organisations that can help. To ... Read more
Super funds of the year awards: Best super funds for 2019/2020
You can find many articles on SuperGuide about the top performing or cheapest super funds (see the list at the end of this article). While these factors are very important when you are comparing super funds, they aren't the be-all and end-all. The major super research houses (Chant West, Rainmaker and SuperRatings) ... Read more
10 key super fund fees: What are they and why am I paying them?
Nobody likes paying fees, particularly when you can’t see what you’re paying for. So when it comes to your super fund, it’s worth learning a bit more about the fees you’re paying and why. Like most things in the super industry, the fees you pay depend on the type of super fund you are a member of, and how you decide to ... Read more
What are lifecycle super funds, and how do they perform?
Click here to jump to the latest returns for lifecycle super funds. Close to 70% of Australians with super in one of the major funds are invested in their fund’s MySuper option, the default option for employees who don’t choose a super fund. If you are a member of a retail fund, this is most likely a lifecycle product ... Read more
Super funds with the lowest fees for life and TPD insurance
Despite concerns that life insurance premiums inside superannuation are set to rise as a result of new legislation making insurance opt-in for members under 25, inactive accounts and balances below $6,000, there is little sign of this happening. But it is still early days. The ‘Protecting your super’ legislation only ... Read more
Super funds with the lowest fees for income protection insurance
Paying too much for Income Protection insurance inside your super fund can cost you dearly, eating into your retirement savings without necessarily improving your cover. Income protection (IP) insurance (sometimes called salary continuance insurance) is available through about a third of super funds as default cover. ... Read more
Monthly super fund performance Reckoner: Monthly returns for 5 investment categories
In the reckoner below you can view the median monthly investment returns for 5 superannuation investment options. We’re grateful to Chant West for providing the statistics that power the reckoner. See also: Super fund performance: Monthly returns to October 2019 ImportantSuperannuation is primarily a long-term ... Read more
Super fund performance: Monthly returns to October 2019
In this article you can discover the latest monthly performance for super funds over 5 investment options. We’re grateful to Chant West for providing the statistics in this article.For annual and long-term super fund performance see the following SuperGuide articles:Super fund performance over 27 financial years (to ... Read more
Innovation in super: Technology used to engage members but retirement income products the next frontier
Innovation in superannuation sounds like an oxymoron. In an industry with funds under management of almost $2.9 trillion and powerful vested interests, change comes slowly even in the best of times. And these are challenging times for the super industry. “The pace of innovation has slowed down over the last 12 months ... Read more
3 steps to making a complaint about your super fund
Sometimes things go wrong. Whether it’s your super fund or its insurer, sometimes the decision about your super account or the information provided is just not the way it should be. But what can you do about it? And how do you go about making a complaint? SuperGuide has put together a simple explainer to help walk you ... Read more